Gold’s slide continued into this reporting period. Week-on-week the metal lost a further 3.10% and dropped to its lowest level in six weeks. In absolute terms gold is now trading at 1,290 $/oz and therefore 100 $ lower than its recent 6-month high.
The interest-rate increase and the possible end of the Quantitative Easing Programme even this year pushed the metal lower. Janet Yellen in her view for 2015 has continued to tell on the metal. Furthermore positive economic data from the USA last week added more gloom to the price: growth in 4th Quarter was better than expected, consumer spending was up and new unemployment registrations fell to almost their lowest in four months. This week the focus will again be on the employment market, when, among others, the non-farm payrolls are due. (Subscribe...)